- Safiu Kehinde
President Bola Tinubu has on Thursday signed the four tax reform bills into law.
The President consented the bills at the Presidential Viola, Abuja, following its passing by the National Assembly.
Recall that the bills designed by the Taiwo Oyedele-led Presidential Committee on Fiscal Policy and Tax Reforms, had sparked controversies and was subjected to public debates over its provision.
It was initially met with strong opposition from northern leaders who considered the bills to be more favourable to the southerners.
However, after months of deliberations and consultations, the bills were passed by the National Assembly with the President’s consent left for its implementation.
According to a statement issued by the Presidency yesterday, the bills which include the Nigeria Tax Bill, the Nigeria Tax Administration Bill, the Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill, will transform tax administration in the country.
This will reportedly lead to increased revenue generation, improved business environment, and a boost in domestic and foreign investments.
Meanwhile the signing of the bills at the Presidential Villa today was witnessed by the Senate President, Godswill Akpabio, Speaker of the House of Representatives, Tajudeen Abass, Senate Majority Leader, Opeyemi Bamidele, and other members of the National Assembly.
Also present were members of Tinubu’s cabinet, including his Chief of Staff, Femi Gbajabiamila.
See video below